In the last three years, more buyers have turned to the mobile phones for property search with 50 per cent of searches now undertaken on mobile compared to 10 per cent in 2014, according to IndiaProperty.com's report 'India Goes Mobile'.
The report is printed here in full:
Mobile technology has changed the way Indians live their lives by giving them the flexibility to get things done at their convenience. Mobile devices have gone beyond the property search arena and now host a whole spectrum of functions like customized feeds, booking mechanisms, site visit modules and most importantly GPS enabled services.
Mobile devices are gaining momentum and competing with desktops in the property search arena. According to data available with IndiaProperty.com, the number of people looking for properties on the mobile phone is on par with those who are looking for properties on the desktop. People are also spending twice as much time on the mobile when compared to the desktop.
Here are some significant findings about how mobile devices are revolutionizing property search.
THE GROWTH STORY
1. TIER-II CITIES propel mobile growth : The pace of mobile growth in Tier II cities has picked up by 30% (CAGR) since 2014 when compared to Tier I cities.2. Buyers spend more TIME ON MOBILE : Product and service industries are leveraging the continuous growth in mobile technology to increase user engagement on mobile. In the last few years the average time spent searching for properties on mobile has more than doubled.
3. GROWTH OF MOBILE VS DESKTOP : In the last three years, more and more buyers have turned to the mobile phones for property search.
As of March 2014 only 10% of the buyers looked for properties via mobile devices compared to 90% on desktop. Now the searches are on par with 50% of it happening via mobile.
When we compare growth of desktop vs mobile, then in the past one year property search on mobiles has grown 10 times faster than that on desktops. In 2014-2015, property searches on mobile had grown 3 times faster in comparison to desktop.
THE DEMOGRAPHICS OF PROPERTY SEARCH IN INDIA VIA MOBILES
1. FEMALE BUYERS Power mobile search : More women are searching for property on mobile and spending longer time on their phones in the process.
2. WEEKEND Searches higher on mobile : A higher number of people search for properties on mobile devices during weekends whereas desktop searches dominate during weekdays.
3. When does India search for PROPERTIES? Property search on mobile holds steady through the day whereas desktop search peaks between 12 pm to 6 pm.
1. Mobile could change the way people search for properties in the near future.
A chat-based collaborative search where buyers and sellers can come together and communicate in real time is a distinct possibility.
Using this medium, sellers will walk the buyers through the features of their property making a better case to sell. This could alleviate a lot of trust issues clouding property transactions now.
2. Location based services available on all smart phones could be a game changer in the future. Once a potential buyer visits a property site, he could get a whole host of valuable information about the property & the surroundings. This could range from crime rates, pollution levels in the area to schools, hospitals and other essentials around the property.
3. The Augmented Reality and Virtual Reality experiences will drive mobile property search in the future and would lead to integration of print and digital marketing media.